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Wouldn't it depend on how well off the investors are and how reliable the tenants are?It's an Investors market, they'll take advantage of the property downturn and hold onto it as long as they like. And they're most likely debt free so they wouldn't have to worry about making repayments to the banks, only thing they'll pay are the council rates and utility bills
I've heard a couple of situations where people have had their house paid off and decided to move into another property, while renting out the one they have paid off.
In one scenario my friend started renting a place out west.
The previous tenants trashed the place.
The landlord couldn't bounce back so had to sell the property.
It put my friend in a nervous situation because he was hoping the new owners would be investors and not looking to move in?
He got lucky and the new landlord just let him stay under the previous agreement.
But it doesn’t always work out that way.
Also another friend of mine had an investment property in Melbourne.
He had tenants staying there and said they were very good.
But then he pulled the trigger recently and decided he doesn't want to pay rent for a shitty flat in Parramatta anymore, kicked the Tenants out and moved in!